CCRes_96-20 - Laserfiche WebLink

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• authentication shall be noted on each Bond so delivered, exchanged or transferred. Interest on the Bonds shall be payable on each February 1 and August 1, commencing August 1, 1997, to the owners of record thereof as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. 2.05. Redemption. The Bonds maturing on or after February 1, 2007 are subject to redemption at the option of the Issuer on or after February 1, 2006 in whole or in part on any date at a redemption price equal to the par amount thereof, plus accrued interest to the date of redemption. If optional redemption occurs in part, such redemption shall be in such order of maturity as the Issuer shall determine, and the Issuer will notify DTC of the particulaz amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Notice of such redemption shall be given not less than thirty (30) days prior to the date of redemption by written notice delivered by first class mail, postage prepaid, to the addresses of the holders of the Bonds as shown on the books of the Registrar. First Tr2u'~t6' Appointment of I itial Regist az. The Issuer hereby appoints National Association , iri St . Pau 1 , Minnesota, as the initial bond registrar, transfer agent and paying agent (the "Registrar"). The Mayor and the City Administrator are authorized to execute and deliver, on behalf of the Issuer, a contract with the Registrar. Upon merger or consolidation of the Registrar with another corporation, if the resulting corporation is a bank or trust company authorized by law to conduct such business, such corporation shall be authorized to act as successor Registrar. The Issuer agrees to pay the reasonable and customary chazges of the Registrar for the services performed. The Issuer reserves the right to remove the Registrar upon thirty (30) days notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all cash and Bonds in its possession to the successor Registraz and shall deliver the bond register to the successor Registrar. 2.07. Registration. The effect of registration and the rights and duties of the Issuer and the Registrar with respect thereto shall be as follows: (a) Register. The Registrar shall keep at its principal corporate trust office a bond register in which the Registrar shall provide for the registration of ownership of Bonds and the registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. (b) Transfer of Bonds. Upon surrender for transfer of any Bond duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in form satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized by the registered owner in writing, the Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Bonds of a like aggregate principal amount and maturity, as requested by the transferor. The Registrar • 1452997 4